Common use of Selection of Independent Firm Clause in Contracts

Selection of Independent Firm. The Parties shall jointly select and retain an independent, qualified firm that is recognized by Rating Agencies as having expertise in analyzing and forecasting traffic and toll revenue. Such firm (within this Section 4.8, the “independent firm”) shall have a duty of care to both TxDOT and Developer. TxDOT and Developer shall share equally the cost of the independent firm. The independent firm may have a prior relationship with one or both Parties only so long as the firm is jointly approved by both Parties, otherwise meets the foregoing qualifications, and complies with any applicable TxDOT conflict policies.

Selection of Independent Firm. The Parties shall jointly select and retain an independent, qualified firm that is recognized by Rating Agencies as having expertise in analyzing and forecasting traffic and toll revenue. Such firm (within this Section 4.814.5.7, the “independent firm”) shall have a duty of care to both TxDOT and Developer. TxDOT and Developer shall share equally the cost of the independent firm. The independent firm may have a prior relationship with one or both Parties only so long as the firm is jointly approved by both Parties, otherwise meets the foregoing qualifications, and complies with any applicable TxDOT conflict policies.